Commercial Real Estate Market in Richmond, RI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
10 active listings and 164 off-market properties in Richmond, RI.
Market Trends
Richmond, RI spans 69.9 square miles in Washington County, Rhode Island. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Richmond, RI runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Richmond, RI runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Richmond, RI runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in Richmond, RI runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 63.5%
- Open space 27.9%
- Planned_development 4%
- Industrial 2.7%
- Commercial 0.9%
- Civic 0.6%
Largest Zones share of zoned land by district
Residential 2 Acre Minimum
Conservation Open Space
Residential 3 Acre Minimum
Planned Development Resort
Industrial
Richmond, RI zones 25,848 acres across 16 districts. Commercial zoning covers 0.9% of zoned land, residential 63.5%, open space 27.9% and industrial 2.7%. The largest single district is Residential 2 Acre Minimum at 38.1%. For commercial buyers the practical constraint is that only 3.6% of land carries a commercial or industrial designation.
Residential 2 Acre Minimum (R-2)
The purpose or intent of the district is to provide low-density residential development with a minimum lot area of two acres
Market overview
Demographics & Economy
Richmond, RI has 13,922 residents in 5,871 households. Density runs 199 people per square mile. Median household income here is $121,624 and median gross rent $1,559 a month.
13,922
Population
5,871
Households
2.4
Avg Household Size
46
Median Age
48%
College-Educated
95%
High-School Grad
69.9 sq mi
ZIP Area
199
Density / Sq Mi
$121,624
Median Household Income
$57,784
Median Earnings
$1,559
Median Rent
$435,104
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hopkinton | — | — |
| Exeter | — | — |
| Charlestown | — | $15.75 |
| North Stonington | — | — |
Commercial property in Richmond, RI asks $383/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Richmond?
Commercial property in Richmond, RI asks an average of $383 per square foot. The 3 most recent recorded sales traded at a median of $123/SF, so asking sits 211% above the achieved median.
What zoning applies to commercial property in Richmond?
Richmond, RI zones 25,848 acres across 16 districts, of which 0.9% is commercial and 2.7% industrial. The largest single district is Residential 2 Acre Minimum at 38.1% of zoned land. The purpose or intent of the district is to provide low-density residential development with a minimum lot area of two acres Residential zoning covers 63.5% and open space 27.9%.
Where does Realmo's Richmond market data come from?
Realmo compiles Richmond, RI figures from 5 recent recorded sales, 10 active sale listings, 164 tracked off-market properties, the current Richmond zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 10 active for-sale and 0 active for-lease listings in Richmond, RI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 25,848 zoned acres across 16 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
